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PotNetwork Holdings, Inc. Reports 6-Month Revenues of over $12 Million, or More than Two Times its Revenues for the Same Period in 2017
FT. LAUDERDALE, Fla., Aug. 15, 2018 (GLOBE NEWSWIRE) -- Company Posts Financial Results for First Half of 2018
via OTC PR WIRE -- PotNetwork Holdings, Inc. (OTC Pink: POTN) announced today that the Company’s six month operating results have been posted on OTCMarkets.com in the form of unaudited financial statement and a supplemental disclosure.
With revenues of $12,044,028, the Company has demonstrated the result of its continuously strengthening momentum. The year-to-date results are more than twice its 6-month revenues in 2017 of $5,077,625, an increase of 137% year-over-year.
These six-month results will be included in the forthcoming audit and certification of the Company’s financial statements by the Company’s new PCAOB-member audit firm, Manohar, Chowdhry & Associates, which audited financial statements will be included in the Company’s refiling of its Form 10 Registration Statement with the Securities and Exchange Commission (“SEC”). Completion of the Company’s newly updated audit and resubmission of its Form 10 is anticipated before the end of the August.
The Company’s previously filed Form 10 was withdrawn on July 20, after the Company’s former auditors lost their PCAOB registration as the result of a 2015 audit of an unrelated company. The withdrawal of the Form 10 was not due to any deficiencies with respect to the audit of PotNetwork Holdings, Inc. submitted with the Form 10.
About Diamond CBD, Inc.: Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
About PotNetwork Holdings, Inc.: PotNetwork Holdings, Inc. (OTC Pink: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils.
Safe Harbor: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: PotNetwork Holdings, Inc. Investor Relations: Marisol Elwell